How Turkish Airlines quadrupled its market share in a 20-year period

The world's largest carrier by destinations serviced, Turkish Airlines has quadrupled its market share in the last twenty years. The airline has been on a mission to grow its fleet, expand its network, and acquire a greater piece of the tough aviation market. The airline operates from its hub at Istanbul International Airport (IST) in Turkey. The country's geographical location provides an added advantage to the airline in expanding its services westward towards Europe and the Americas, southward in Africa, and eastward in the Middle East and Asian subcontinent. The flag carrier currently operates scheduled services to over 360 destinations in 128 countries. The 2022 financial data shows that the airline made a revenue of $19.7b, with profits approaching $2.8b. Story explores Turkish Airlines' market share growth in the last two decades. Just over twenty years ago, in 2002, Turkish Airlines had a global market share of 0.6%, offering 24bi ASK. The airline began the rapid expansion journey regarding its network and fleet. Five years later, in 2007, the airline nearly doubled its ASK to 42b and saw an approximately 20% growth in global market share. In the following five years, Turkish Airlines would succeed greatly in many aspects. The airline saw a 105% growth in its fleet in this relatively short time. As such, the airline offered more services and recorded an ASK of 96b in 2012. This development enabled the airline to double its global market share to 1.4%. The growth further continued with the addition of new aircraft in its fleet and network expansion.<br/>